Friday March 22, 2019
Home India Government to...

Government to achieve 3.9 percent fiscal deficit target: Arun Jaitley

0
//

New Delhi: Finance Minister Arun Jaitley on Tuesday exuded confidence that the government will achieve the fiscal deficit target of 3.9 percent in the current financial year.

“I have consciously kept this year a very modest target of 3.9 percent. I think the manner in which tax revenues and expenditure are moving, I don’t think this will be difficult to meet,” Jaitley said here at the five-day India-Africa Forum Summit (IAFS) which commenced here on Monday.

Stating that there was a better collection of revenues during the first six months of the current fiscal, he hoped the same for the remaining two quarters of 2015-16.

He, therefore, ruled out any possibility to slash expenditure either of state governments or that of various central ministries.

“I don’t think this year we have to cut down expenditure of either state government or public expenditure of the central ministries as it is moving ahead of our target as far as indirect taxes are concerned,” the minister said.

The targets for the next three years have been set at 3.9 percent for 2015-16, 3.5 percent for 2016-17, and 3 percent for 2017-18.

On disinvestment front, the minister said there were challenges, particularly on account of global prices of metals, which constitutes large part of India’s gross domestic product (GDP), not doing well.

“And therefore, I think it don’t make sense divesting at a time when prices are low,” Jaitley said.

(IANS)

Next Story

India to Withdraw Pakistan’s ‘Most Favoured Nation’ Status

The Ministry of Commerce will issue the necessary communication in this regard, Jaitley added.

0
Arun Jaitley
Jaitley said that the CCS observed a two-minute silence for those who made the ultimate sacrifice and expressed their condolences to the bereaved families. Wikimedia

Union Minister Arun Jaitley on Friday said that the government has decided to withdraw the “Most Favoured Nation” status given to Pakistan, in the wake of the worst-ever terror attack in Jammu and Kashmir a day ago when a CRPF convoy in Pulwama was rammed into by an explosive-packed SUV that has left 45 troopers dead.

The decision was taken at a meeting of the Cabinet Committee on Security (CCS) chaired by Prime Minister Narendra Modi after the suicide attack on Thursday that proved to be the most devatating since militancy erupted in 1989.

Speaking to the media after the meeting, Jaitley said: “The most favoured nation status which has been granted to Pakistan stands withdrawn.”

Arun Jaitley
“The most favoured nation status which has been granted to Pakistan stands withdrawn.” Pixabay

The Ministry of Commerce will issue the necessary communication in this regard, he added.

“The Ministry of External Affairs (MEA) will initiate all possible steps, and I am referring to all diplomatic steps, which are to be taken to ensure the complete isolation from the international community of Pakistan of which incontrovertible evidence are available of having the direct hand in this gruesome terrorist attack,” Jaitley said.

The MEA in due course will keep you informed with regard to steps taken, he added.

Jaitley said that the MEA would also engage with the international community to make sure that the Comprehensive Convention on International Terrorism which has been pending for over three decades with the UN, particularly because of the definition of the word terrorism, must be adopted at the earliest.

 

Arun Jaitley
“The most favoured nation status which has been granted to Pakistan stands withdrawn.”, says Jaitley. Pixabay

Besides Modi and Jaitley, External Affairs Minister Sushma Swaraj, Home Minister Rajnath Singh and Defence Minister Nirmala Sitharaman were also present at the meeting.

ALSO READ: US Charges Former Air Force Intel Officer With Spying for Iran

Jaitley said that the CCS observed a two-minute silence for those who made the ultimate sacrifice and expressed their condolences to the bereaved families. At least 38 others continue in hospitals with injuries in the attack that has left the security establishment stunned.

He said the CRPF of course will make detailed arrangement with regard to transporting the bodies of the deceased to their families. (IANS)